KYND, a prominent provider of cyber risk management solutions, has announced the completion of a substantial investment to fuel its expansion and further development.
The investment comes from Verisk, a leading global data analytics and technology provider, along with existing investor BGF, one of the UK and Ireland’s largest and most experienced growth capital investors.
This latest tranche is set to support KYND’s global growth plans and the continued development of transformative cyber risk technology
Founded in 2018 by Andy Thomas and Melanie Hayes, the firm has developed a cyber risk monitoring platform aimed at providing instant and continuous insights into the cyber risk profile of any organisation. This platform offers actionable and transparent cyber risk intelligence, facilitating informed and rapid decision-making across the cyber ecosystem.
Commenting on the news, Andy Thomas, chief executive of KYND, said, “The threat of cybercrime is rising; attacks are now a question of “when” not “if” and the risk of these occurring has knock-on effects across the broader landscape. At KYND, we are committed to creating best-in-class, efficient and insight-rich tools that not only remove complexity & jargon, making cyber risks easy to identify, monitor and remediate but also enable rapid decision making in this dynamic ecosystem. We are excited to continue working with BGF and look forward to welcoming the Verisk team as we execute on our ambitious growth plans.”
Since securing its Series A funding in early 2022 from BGF, KYND has expanded its suite of cutting-edge products and industry-focused solutions.
These solutions are utilised by leading insurers, brokers, and private equity firms, including Beazley, Howden, Alliant, and Phoenix Equity Partners. Additionally, KYND has successfully established a presence in the US, with a dedicated team based in Austin, Texas.
Verisk’s investment in the company marks an exit for CPP, a UK-based provider of assistance and insurance products, which has supported the business since 2018.
Rowan Bird, investor at BGF, stated, “KYND has developed an industry-leading platform that provides actionable insights on cyber risk posture. The business has demonstrated impressive growth and this new investment demonstrates our belief in the long-term potential of the company as it continues to scale.”
Tim Rayner, president of Specialty Business Solutions at Verisk, added, “Helping our clients address the risks associated with cyber events is one way we build resilience for the global insurance industry. We are excited to support KYND and find new ways of working together in support of Verisk’s clients in the global insurance market.”
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